But detractors say the CFA franc is a “post-colonial” contract that prevents countries from exercising sovereignty over their currency, or which enables France to wield influence in Africa.

The 15 member states of the Economic Community of West African States (ECOWAS) have agreed to adopt a single currency, the “eco”, as early as next year.

Prospects of earlier changes to the region’s currency dramatically surfaced this month when Benin leader Patrice Talon said the western African states planned to pull their reserves from the Bank of France.

“We are all agreed, unanimously, that we should put an end to this model,” Talon told French broadcasters RFI and France 24 on November 14.